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On March 1, Hsu Imports established a petty cash fund of $325. The journal entry to record the replenishment of the fund for $290 at
On March 1, Hsu Imports established a petty cash fund of $325. The journal entry to record the replenishment of the fund for $290 at the end of March includes:
| A debit to Petty Cash of $290. |
| A credit to Cash of $290. |
| A debit to various expense of $35. |
| No journal entry is required; journal entries are only needed when the petty cash fund is created or discontinued |
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